Mortgage Cucks

[Anonymous No.19377573]

>He just put 10% down on a 400k house
>He thinks that his house will be worth 15-20x what he paid for it in 40 years like it was for his parent's generation.
Imagine being this deluded. This will not fucking happen.

[Anonymous No.19377630]

>He just put $40,000 into stocks
>He thinks that his portfolio will be worth 15-20x what he paid for it in 40 years like it was for his parent's generation.
Imagine being this deluded. This will not fucking happen.

[Anonymous No.19378259]

>he literally pays someone else's mortgage by renting

[Anonymous No.19378277]

>>19378259
>he literally pays someone else's real estate commission when mortgaging

[Anonymous No.19378278]

>>19377630
>buy stocks
>sell stocks
>reinvest and repeat
wouldn't this be pretty ez since stocks are like cryptocurrency on easy mode?

[Anonymous No.19378284]

>>19378259
Being a proud rentcuck is the biggest cope I have ever seen posted on this board. It actually makes me wonder if it is posted by landlords.

[Anonymous No.19378290]

it'll be worth 100x current USD value, but not due to valuations.

[Anonymous No.19378338]

Imagine thinking you're smart for renting lmao like wtf where do you idiots learn this shit?

[Anonymous No.19378365]

I bought a house in 2009 for 340k and it's already worth 480k. Why do you think he's wrong? Theres really not much of a better investment than real estate.

[Anonymous No.19378379]

>>19378365
You would have 7m if you bought Amazon stock.

[Anonymous No.19378396]

i don't know why people think there is a static answer to this question. mortgage vs renting relies a lot on personal circumstances, location and economic environment. there is not a clear cut answer to this.

[Anonymous No.19378402]

>>19378338
yeah I always see this shit but have yet to see anyone with a valid reason backing that statement.

[Anonymous No.19378417]

>>19378284
>>19378338
By renting and living cheap, I'm able to invest 50% of my net income. What's your excuse, poorfag?

[Anonymous No.19378418]

>be poor flyover
>no high paying jobs around
>need to base life around reducing costs rather than increasing income

[Anonymous No.19378429]

>>19378284
If you work/live in a big city, it's smarter to rent. Fuck paying 1 million for a shack or buying a condo

[Anonymous No.19378493]

>>19378417
lmao cope and uneducated

[Anonymous No.19378505]

>>19377573
It'll be worth 40 million but that's only worth 29k in today's dollars.

[Anonymous No.19378536]

>>19378493
>He thinks that you can just live in the same place your whole life in the 21st century
>He think that the concept of job security is still a thing.
Kek

[Anonymous No.19378547]

>>19378290
based, this

[Anonymous No.19378647]

40 years? Are you joking? Of course anything will be worth 10x more in 40 years of inflation. That is guaranteed. The only argument you can make is maybe houses go down in the next few years. But people have been saying that there will be a crash for 10 years now. And 2008 was only like a 10-20% dip and recovered a few years later.The fact is mortgages are all owned by a government run, money loosing corporation and system is rigged from the top down to continually inflate asset values. Because guess who owns most assets? The people in charge. That won't change.

[Anonymous No.19378754]

Imagine being tied down to living in the same place for 15-30 years straight while also paying debt to a bank lmao

[Anonymous No.19378772]

>>19377573
imagine not putting a permanent cap on your largest expense

[Anonymous No.19378838]

Would the smartest thing be to buy an acre of land? that's what I am going to do. Brb calling based dept.

[Anonymous No.19378885]

>>19378772
my largest expense is taxes :^)

[Anonymous No.19378940]

>>19378417
>>19378429
>>19378536
>>19378754
You faggots are poor and it shows.

[Anonymous No.19378971]

If the choice is between throwing your money into a void and actually owning something and building equity, why is that even a choice at all? How am I even on a board that purports to be about finances and wealth and people here advocate for renting over owning?

[Anonymous No.19379021]

>>19378772
imagine worrying about minimizing expenses over maximizing income

[Anonymous No.19379037]

>>19379021
I bet you work as a cashier and spend your downtime dreaming about the day you finally make it big

[Anonymous No.19379050]

I work as an Ag Underwriter and I know these hillbilly fucks make bad choices, but I can tell you right now the most wealthy people that I approve/deny loans for have both an insane amount in their brokerage accounts and actually own real estate (mostly farm land, but some do commercial). If they cannot own land due to outright cost or no available land close by to buy, they will rent acreage from other farmers. This is a long winded way of saying there are benefits to both and often these multimillionaires are cash poor, but dirt rich. It doesn’t matter which is better if you can utilize both effectively. These bait threads are stupid and I believe every one should one real estate to live in as well as to rent out so if you can’t then you utilize renting until you can.

[Anonymous No.19379053]

>>19378838
multiple acres of land anon. 40 minimum to qualify for USDA loans and large enough to definitely come with deeded water and mineral rights. You're on the right track but dream bigger.

[Anonymous No.19379069]

>>19379021
Also, minimizing your expenses is maximizing your income you dimwit

[Anonymous No.19379073]

>>19378647
The "national" debt increased by over 50% between 2008 and 2014. The debt is increasing with every print. Give it 2 months.

[Anonymous No.19379150]

>>19379073

pretty much. you are insane if you think the dollar is going to win vs any asset with some real scarcity long term. 30 fixed mortgages are in the 2-3% range. literally a free house in a decade when the fiat charade collapses.

[Anonymous No.19379153]

>>19378971
because as a business owner (/biz/ remember?) I can use my down payment capital to keep improving my business that has historically netted me 26.42% over locking it up in a house for a paltry 2%-5% increase in the value yearly. And I already know Covid, small businesses being decimated, everyone is broke, blah blah blah. I have partial control over my business, I have 0 control over the housing market.

[Anonymous No.19379168]

>>19378290
This. I'm seriously thinking I need to buy a house within the next 18 months simply as a hedge against the coming decade of inflation.

[Anonymous No.19379239]

>>19378402

A mortgage is paying rent to a bank, you end up paying more than 40% of the principal in interest over the period of the mortgage, and you're on the hook for maintenance and repairs.

Compare that to investing in an appreciating asset, rather than taking literally the worst possible kind of loan, which a mortgage is.

>>19378365
>>19378379
>You would have 7m if you bought Amazon stock.

This exactly. I'll be buying a nicer house than I could mortgage, for cash, in a couple years.

[Anonymous No.19379992]

>>19378379
>>19379239

You could have also bought amazon stock in 2000 and be down 90% in 2 years. Yeah, you'd eventually be break even 10 years later but thats survival's bias. Most dot com bubble companies when bankrupt or the stock otherwise went to zero and never came back.

Meanwhile, the "housing crisis" was like a 20% dip at worst.

[Anonymous No.19380007]

>>19377630

[Anonymous No.19380026]

>>19379239
Think about what you said though Anon. You need to wait a couple of years and some of my customers that I work loans for need cash to buy up real estate now whether it’s a sweet deal like a non arms length transaction between father and son that is non Amish so being able to buy 1.2 million dollar land for say 500k and needing the cash now not in a few years. You have the right idea, but honestly there’s no reason to completely omit mortgages. I’m not biased because my company makes money off of all types of loans and really the highest interest we get back is from business and capital lines of credit in equipment. Land is always appreciating asset btw because you cannot depreciate land only buildings.

[Anonymous No.19380036]

>>19379239
they think they will have job security for 40 years or some stupid shit like that

12 month leases already feels tied down for me

[Anonymous No.19380074]

>I'M GETTING JEWED LESS WITH MY 150k WOODEN PALACE IN ARKANSAS
>I HECKIN LOVE MY MORTGAGERINO

[Anonymous No.19380076]

I just want to not raise kids in the city

[Anonymous No.19380130]

>>19379992
>You could have also bought amazon stock in 2000 and be down 90% in 2 years. Yeah, you'd eventually be break even 10 years later but thats survival's bias.

Now do 30 years, aka the period of your average mortgage. Even an index fund will kick the shit out of home appreciation.

This isn't up for debate, it's just math. Over the last 50 years, house prices barely beat inflation. Sure, Boomers are cashing out that million dollar house they bought for $75,000 in 1968, but a fully loaded Cadillac at the time was $6800. Now, factor in interest costs over those 50 years, a couple of new roofs, new appliances, plumbing repair, paint and upkeep, and you're well below inflation. Your ONLY hope to even come out slightly ahead on a mortgage is to buy in an area where appreciation vastly outpaces the national average.

There's this old saying that the difference between the rich, the middle class, and the poor is that the rich buy assets that make them richer, like stocks, the middle class buy liabilities that they think are assets, like houses and cars, and the poor buy luxuries, like booze and shoes. If you think a house isn't a liability, you're never going to be more than middle class.

Make money and buy a house cash when you can afford it.

[Anonymous No.19380178]

>>19380026
>honestly there’s no reason to completely omit mortgages.

I used to be a mortgage broker, there are excellent reasons to omit mortgage. If more people understood mortgage amortization, they'd hang bankers from lamp posts.

>yes goyim, for the first 5 years you won't even be reducing the principal, 90% of your payments are interest
>and after those 5 years we'll renegotiate, in case things have changed in a way that's more favorable for us
>and if you lose your job in Year 6 and we have to foreclose, we get your house AND you've already paid us all our profit up front

The Mob isn't as bad as mortgages. There's a reason banks would cut me big fat checks just for sending new homeowners to them.

And all this to buy a financial liability that, again, you're hoping will appreciate a little bit better than inflation!

>>19380036

It's weird how the middle class thinks.

[Anonymous No.19380326]

>>19380026
I’m self employed how the fuck can I get a mortgage? Any inside tips? I’m 100x safer than a wage slave but getting a mortgage is a pain in the ass.

[Anonymous No.19380364]

>>19380326
>I’m self employed how the fuck can I get a mortgage?

Don't.

[Anonymous No.19380365]

>>19380130
>Make money and buy a house cash when you can afford it.

Wouldn't it be better to just take that 500k you spend on a house, rent instead, and put that 500k in the market? Like, when is owning a house ever a good idea, money wise?

[Anonymous No.19380426]

>>19380365
>Wouldn't it be better to just take that 500k you spend on a house, rent instead, and put that 500k in the market?

Yes.

>Like, when is owning a house ever a good idea, money wise?

1. Owning rental properties, theoretically
2. Paying cash in a hot area where you can reasonably expect healthy appreciation, but even then you probably still won't beat an index fund, and you still have to deal with maintenance and repairs.

Buying a house with a mortgage is just plain stupid, fiscally speaking.

[Anonymous No.19380498]

>>19380178
yes people actually ... wait for it ... work for a living, not live off of their daddy's etf divies

[Anonymous No.19380515]

>>19380364
Fuck. So you just rent then and invest? What if I just want to buy a house to rent it out?

[Anonymous No.19380563]

>>19380515
Why would you buy a house to rent out unless your speculating? Apartment buildings or commercial real estate are both much better.

[Anonymous No.19380577]

>>19377573
THE TOP IS IN FAGGOT
KEEP YOUR BAGS

[Anonymous No.19380581]

>>19380178
Farmers can write off amortization on a Schedule F form just like you and I can write off home mortgage interest on a Schedule A. A home can be used very easily as a tax shelter and more often than not do not need to be paid off or paid in cash to reap the benefits. I work for a co-op so I don’t get said fat checks because we give back patronage, but my point is there are still benefits to mortgages especially from the banks we poach from

[Anonymous No.19380583]

>>19377573
Mortgages are fantastic. I got a rental on foreclosure with a nice ass 30% discount and a 3.8% fixed interest rate mortgage. Cashed out my initial tax free thanks to generous rent cucks who put a dent on my mortgage and a tax structure that widely favors real estate over stocks, so my ROI is looking pretty. The house appreciates 6-10% per year and rent inflation has been about 9% on average. This shit prints money. Keep renting and investing that difference bro

[Anonymous No.19380592]

>>19380563
the argument is that houses appreciate faster than interest, it's really a speculative play

[Anonymous No.19380617]

>>19380326
Good FICO score, need stable income with pay stub proof for 2 or more years. Have a working capital of 2-3 times what the current portion principal would be annually. Example - have 20-30k in cash for every 10k you have in term or operating debt. Additionally, use a credit union or co op because they don’t (usually) sell your mortgages to other places like Fannie Mae so they can charge lower rates and omit closing costs

[Anonymous No.19380679]

>>19380498
>hur i work fur a livin hyuk
>ahma give it all to a bank
>ahm contribootin to this here conversyation

You shouldn't be making financial decisions.

>>19380581

Mortgages have made me a bunch of money too -- but I'm not going to pretend they're not almost exclusively a terrible financial decision, same as financing a new car.

[Anonymous No.19380723]

>>19380617
Would bank statement/stated income work? I don’t claim a lot on taxes that’s my problem. Credit score is 810.

[Anonymous No.19380739]

>>19380007
congrats on BTGOing yourself

[Anonymous No.19380801]

>>19380679
lol if you think lenders are winning the battle, have you seen the interest rates?

[Anonymous No.19380817]

>>19380617
>>>19380326
>Good FICO score, need stable income with pay stub proof for 2 or more years. Have a working capital of 2-3 times what the current portion principal would be annually.

Dude you do realize the average user here is investing in shit coins or buying fractional shares on some shit tier trading platform. They barely have they money for next months rent.

No slight at you...

[Anonymous No.19380902]

>>19380801

Yes. Because I understand amortization and you don't.

[Anonymous No.19380915]

>>19380817
>tfw business valued at 700k
>tfw McDonald’s employée gets mortgage easier than I can
Kek

[Anonymous No.19380973]

>>19380902
Lol you don't understand how lenders vs owners work. Newflash, they both have capital and decide to commit it to some business model. Newflash: interest rates are 0 yet again.

[Anonymous No.19381062]

>>19380973
>Lol you don't understand how lenders vs owners work.

lmao you retarded nigger, I was literally a mortgage broker for years.

[Anonymous No.19381129]

I just want a place to live long term I’m tired of apartments and moving every few years.

[Anonymous No.19381416]

>>19378396
very much this

[Anonymous No.19381460]

>>19379050
>these multimillionaires are cash poor, but dirt rich
god imagine owning millions of dollars in dirt